Melco’s Studio City pre-opening costs rise to $0.9m

    Melco Crown unit Studio City finance, which is developing the company’s new Studio City Cotai resort said pre-opening costs rose to $0.9 million in the three months to end March, compared with $0.6 million in the same period a year ago.
    Studio City said that it expects its losses to continue to rise until the new resort opens in mid-2015.
    However, for the three-month period Studio City’s net loss of US$13.5 million declined
    from $21.5 million a year ago, primarily due to higher interest capitalization.
    Melco is spending $2.9 billion on the Studio City resort.